NCI BUILDING SYSTEMS, INC. (NYSE:NCS) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
Release) announcing NCIs financial results for the fourth fiscal
quarter and fiscal year ended October 30, 2016. A copy of the
Press Release is attached as Exhibit 99.1.
operational and financial presentation with the results for the
fourth fiscal quarter and fiscal year ended October 30, 2016 and
forward-looking statements relating to the first fiscal quarter
ending January 29, 2017 (the Supplemental Presentation). The
Supplemental Presentation will be posted on the companys website,
www.ncibuildingsystems.com, on December 8, 2016.
EBITDA, Adjusted EBITDA margin, Adjusted Operating Income (Loss),
Adjusted Net Income (Loss) Applicable to Common Shares, Adjusted
Net Income (Loss) Per Diluted Common Share and Backlog, which are
non-GAAP financial measures. Adjusted EBITDA excludes
restructuring and impairment charges, strategic development and
acquisition related costs, gain on legal settlements, gain from
bargain purchase, gain (loss) on sale of assets and asset
recovery, fair value adjustment of acquired inventory, and
share-based compensation. Adjusted Operating Income (Loss)
excludes restructuring and impairment charges, strategic
development and acquisition related costs, gain (loss) on sale of
assets and asset recovery, fair value adjustment of acquired
inventory and amortization of short lived acquired intangible.
Adjusted Net Income (Loss) Applicable to Common Shares and
Adjusted Net Income (Loss) Per Diluted Common Share exclude
restructuring and impairment charges, strategic development and
acquisition related costs, gain (loss) on sale of assets and
asset recovery, gain from bargain purchase, gain on legal
settlements, fair value adjustment of acquired inventory,
amortization of short lived acquired intangible and the tax
effect of the applicable non-GAAP adjustments. Adjusted EBITDA is
calculated based on the terms contained in NCIs term loan credit
agreement. Adjusted EBITDA margin is calculated as Adjusted
EBITDA divided by sales. Backlog represents the estimated amounts
under contractual agreements for products expected to be
delivered to our customers under the contractual terms.
Income (Loss), Adjusted Net Income (Loss) Applicable to Common
Shares, Adjusted Net Income (Loss) Per Diluted Common Share and
Backlog are measures used by management and, therefore, provided
to investors to provide comparability between periods of
underlying operational results. Adjusted EBITDA, Adjusted EBITDA
margin, Adjusted Operating Income (Loss), Adjusted Net Income
(Loss) Applicable to Common Shares, Adjusted Net Income (Loss)
Per Diluted Common Share and Backlog should not be considered in
isolation or as substitutes for net income (loss), operating
income (loss), net income (loss) applicable to common shares, net
income (loss) per diluted common share or revenue determined in
accordance with generally accepted accounting principles in the
United States. The non-GAAP financial measures and
reconciliations thereof to the most directly comparable measures
prepared in accordance with generally accepted accounting
principles are included in the Press Release furnished as Exhibit
99.1 hereto and the Supplemental Presentation attached hereto as
Exhibit 99.2.
Exhibit 99.2 which are attached to this Form 8-K shall not be
deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the Exchange Act) or otherwise
subject to the liabilities of that Section, nor shall they be
deemed incorporated by reference in any registration statement or
other filing under the Securities Act of 1933, as amended, or the
Exchange Act, except in the event that NCI expressly states that
such information is to be considered filed under the Exchange Act
or incorporates it by specific reference in such filing.
(d)
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Exhibits.
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Exhibit
Number
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Description
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99.1
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Press Release dated December 8, 2016
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99.2
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Supplemental Presentation dated December 8, 2016
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About NCI BUILDING SYSTEMS, INC. (NYSE:NCS)
NCI Building Systems, Inc. is a manufacturer and marketer of metal products for the non-residential construction industry. The Company operates through three segments: engineered building systems, metal components and metal coil coating. The metal coil coating segment consists of cleaning, treating, painting and slitting continuous steel coils before the steel is fabricated for use by construction and industrial users. The metal components segment products include metal roof and wall panels, doors, metal partitions, metal trim, insulated panels and other related accessories. The engineered building systems segment includes the manufacturing of main frames, Long Bay Systems, and engineering and drafting. It sells engineered building systems brand names: Metallic, Mid-West Steel, A & S, All American, Mesco, Star, Ceco, Robertson, Garco, Heritage and SteelBuilding.com. The Company operates approximately 40 manufacturing facilities in the United States, Mexico and China. NCI BUILDING SYSTEMS, INC. (NYSE:NCS) Recent Trading Information
NCI BUILDING SYSTEMS, INC. (NYSE:NCS) closed its last trading session down -0.35 at 15.70 with 780,246 shares trading hands.